Latest News Of Bithumb Tag

South Korean cryptocurrency exchange Bithumb has escaped without liability following legal action brought by a victim of a $335,000 hack on the platform, in a landmark ruling for the cryptocurrency sector.

The proposal for blockchain industry, as well as cryptocurrency exchanges, that would see entities in the spaces be permanently added to the government’s official list of certified venture firms has now been shot down.

Representatives from the South Korean banking industry have said they will limit services to cryptocurrency traders who haven’t converted to real-name accounts, in a move designed to shake up the 50 to 60% of accounts that still remain unverified.

South Korean cryptocurrency exchange Bithumb ran up first half profits of $35 million, ten times smaller than profits for the previous accounting year, in the wake of a high-profile hack on the exchange in June.

Bithumb, a cryptocurrency exchange based in South Korea, is already working to obtain regulatory approvals from Thailand's Securities and Exchange Commission to set up an exchange in the country, according to reports.